Briefly Distinguish Between Sensitivity Analysis,scenario Analysis,and Simulation Analysis

question 112

Essay

Briefly distinguish between sensitivity analysis,scenario analysis,and simulation analysis.

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Definitions:

Primacy Effect

the tendency to remember information that comes first in a list better than information that comes later.

Recency Effect

A memory phenomenon where the most recently presented items or experiences are more likely to be remembered than those presented earlier.

Primacy Effect

The tendency to remember information at the beginning of a list better than the information in the middle or at the end.

Recency Effect

The tendency to remember the most recently presented items or experiences more effectively than those presented earlier.